New America Energy Corp (OTCMKTS:NECA) Reports Transition Into A Holdings Firm
New America Energy Corp (OTCMKTS:NECA) through its subsidiary Title King, LLC reported the third step of the firm’s new 3-step investor-confidence plan. The firm will transition into a holdings entity.
New America Energy stated that it is delighted to initiate this strategically-timed business transition, since a Holdings firm entity immediately positions company to fully realize existing growth endeavors and now growing opportunities in thrilling new sectors. NECA has commenced the legal procedure to become a Holdings Firm simultaneous with the firm recently identifying a Director of Acquisitions.
Jeffrey Canouse, the CEO of New America, said that they personally consider that this third measure in their investor confidence plan is by far the most thrilling and poignant. After company’s past numerous weeks of corporate advancements and currently with a Director of Acquisitions joining their executive management roster, they have decided that the firm should turn into a Holdings firm.
This action will better cash on the many prospects the firm is exploring in growing sectors. The objective is to commence delivering acquisitions that instantly showcase a rapid jump in company’s bottom and top-line revenues. By making it a true Holdings firm, they consider that their capability to utilize capital structure resources will enable them increased flexibility to excellent acquisitions. The firm also offer updates concerning all three phases of the recently executed investor-confidence program.
New America commits to a 1 billion shares decline and a 90-day standstill deal with creditors. All correspondence has been given to the Nevada SOS to close the 1 billion share decline. The creditors continue to be committed to the deal. Beyond this period, the firm is hopeful to rely on non-dilutive revolving-credit funding for the majority of funding needs.
The Company promises to closing 111 million shares from the O/S. They have been working with their Transfer Agent to return this stock back to treasury.© Copyright 2016 OTC News Magazine. All rights reserved.